Ryder System Inc (R)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 1.81 | 1.94 | 1.45 | 1.72 | 1.56 | |
| Number of days of payables | days | 201.76 | 188.52 | 251.72 | 211.90 | 233.89 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.81
= 201.76
The number of days of payables for Ryder System, Inc. has shown some variability over the past five years. In 2023, it increased to 32.06 days from 29.10 days in 2022, which signifies that the company took longer to pay its suppliers in 2023 compared to the previous year. This could indicate a potential strain on liquidity or changes in payment terms with suppliers.
Looking further back, the number of days of payables was highest in 2021 at 34.72 days, indicating an extended period taken by the company to settle its payables that year. In contrast, in 2020 and 2019, the number of days of payables was lower at 27.96 days and 28.73 days, respectively, suggesting more efficient management of payables during those years.
Overall, the trend in the number of days of payables for Ryder System, Inc. shows fluctuations over the years, which may warrant a deeper investigation into the company's working capital management and supplier relationships.
Peer comparison
Dec 31, 2023